Nationwide

becksh1981

Hi

Just wondered if anyone has any experience with nationwide. They have signed off all our documents and have booked our valuation. Does that mean our mortgage has been approved subject to satisfactory survey?

It took them 4 days from receiving the app to booking the valuation, so I presume they had a thorough look at our application.

Hope nothing will go wrong

AMO77

My experience hasn't been good, as the fact I have 3 valid incomes (a salary job, a PAYE job and I'm self employed - all connected, classical musician) doesn't wash with Nationwide. They left it to the 11th hour ("we are happy with all points of your app and would go to offer if the system wasn't down, please call back tomorrow") to then tell me "we can only take 2 of your incomes, and there loan you £30k less, can you find another £30k?" (Not when I'm already putting down £60!)
I now have a DIP with Barclays (my own bank) and an application in there.
So my advice is, if you have one job and one income stream (even 2) Nationwide will be fine I am sure.
If like me, and many others, you have more than 2 sources of income, try Barclays or HSBC where a good friend tells me they were very sympathetic to her being employed and PAYE at 5 different schools (visiting music staff) and self employed for her concert and recording career.

AMO77

£60k deposit that is not £60! ;-)

ACG

I do not use them a lot but my understanding is that if the case refers they instruct the valuation after underwriting. If the credit check passes they do it straight away.

But my account manager 2 weeks ago said they were working on some changes so I could be wrong. Best bet is to ask your broker or nationwide if you do not have a broker whether the paperwork has been assessed - no point making assumptions.

Also a major issue with nationwide is that they have underwritrs for payslips, bank statements etc so you could find your case gets looked at by multiple peopple.

Jon_B_2

4 days from application sent in to offer.

PDF

Nationwide Valuation for me was Friday 15th, email to say formal offer was being sent on Wednesday 20th and offer rec'd in the post Saturday 23rd.

They did require a couple of documents during the process but it went quite smoothly, applied on the 3rd May. Good luck.